Taking the "?" Out of the "What if?" for Strata Owners
The news over the years hasn’t been kind to Strata owners. In British Columbia, the leaky condo crisis of the late 90's and early 2000’s continues to leave its mark. “By 2003, the B.C. Homeowner Protection Office had identified about 65,000 leaky condos across the province.” Damages and repair costs ran into the billions of dollars.
In 2021, the collapse of a Condominium building in Miami Beach, Florida captured the attention of the entire world.
In both of the above nightmares that created major impact, even the loss of life to homeowners, laws and construction bylaw changes were/are being undertaken to ensure similar situations do not occur.
But why must we have to learn from our mistakes in such dramatic fashion? Could the leaky condo situation have been avoided? Could the building collapse in Florida have been prevented? The answer in each case is “yes.” But that answer comes, again, from hindsight.
Canadian Strata Fund Track Solutions (CSFTS) is in the business of doing the groundwork that, when followed, will contribute significantly to more stable housing infrastructures, and that means less likelihood of expensive “out of pocket” and unplanned financial impact to the individual Strata homeowner.
Not only do the technologies we employ enable us to “see” and recommend proper mitigation of the dangers before they become reality, but the financial forecasting processes we apply, combined with our years of experience in Strata management, allows us to develop and present cost efficient maintenance plans that cost as little as a cup of coffee per month. We can even show you how that maintenance plan is cheaper than the repair needed once the damage appears.
Avoid the surprises